Superstar Rajinikanth is currently relaxing heaving a sigh of relief as damsel sword that has been hanging on his head for quite some time has disappeared.
It is known that Income Tax Department served notices to Rajinikanth and conducted searches at his Poes Garden residence suspecting concealment of income by the star though he disclosed Rs 61.12 lakh, Rs 1.75 crore, and Rs 33.93 lakh for the financial years 2002-03, 2003-04 and 2004-05 respectively.
IT department alleged that Rajini disclosed only an insignificant part as his income while concealing more than 50% of his income. It imposed a hefty penalty of Rs 66.21 lakhs on Rajinikanth. He went against the officials in the Tribunal and got the favorable result which forced the It department to appeal against the decision in the Madras High Court.
After so many years, Rajinikanth got a breather when the Central Board of Direct Taxes (CBDT) decided to drop the legal proceedings in cases valued under Rs 1cr. Accordingly, Income Tax Department's Counsel M Swaminathan appealed in the Madras High Court comprising of justices Vineet Kothari and R Suresh to dismiss the case against Rajinikanth.